Bankruptcy doesn't have to be something bad.
It can actually be the start of something good.
Your situation is unique, and it's personal.
Your attorney should be as well.

Former Redskins player files for Chapter 11 bankruptcy

Former professional football player Clinton Portis recently filed for Chapter 11 bankruptcy in Florida after reports revealed that he was facing debts of over $2.5 million. News sources said the 34-year-old ex-Redskins star filed for Chapter 11 Bankruptcy in the Northern District of Florida on November 5.

Documents revealed that Portis has more than $1 million left on an unpaid mortgage to Residential Credit Solutions. The foreclosure process of the home which Portis built for his mother, for which there is a $920,000 unsettled mortgage, has been halted due to the bankruptcy filing. Portis, who has estimated his assets to value between $1 million and $10 million, is also seeking to be protected from his other debts, such as car loans, income taxes, credit card bills, and gambling debts.

The lawyers at Greenway Bankruptcy Law, LLC in Birmingham represent individuals who seek to relieve financial stress through bankruptcy or debt negotiation. To speak to our financial legal team today about your options, call (205) 324-4000 today.

How to quickly recover from credit card debt

Nationwide credit card debt continues to soar, leaving many households steeped in what they often believe will be a never-ending debt cycle. Fortunately, the following is a list of tips for these individuals that may enable them to pay off their credit card balances more quickly.

  • Avoid tacking on to your credit card balance by continued use of the card in question until it is completely paid off.
  • Try to increase your cash flow by looking for a sideline job.
  • Keep yourself motivated in settling your credit card debts by concentrating on one balance at a time.
  • Negotiate with your credit card companies to have your interest rates reduced if you have a respectable credit card history.
  • Always pay more than the minimum balance each month if you can in order to reduce interest.

Though the tips mentioned above may help you in paying your credit card debts, another tip worth considering is to consult with a knowledgeable, skilled bankruptcy lawyer. Find out how the financial legal team at Greenway Bankruptcy Law, LLC, in Birmingham may be able to help you recover from your overwhelming debts today by calling (205) 324-4000.

Alabama Leaders Gain Momemtum in Bankruptcy Deal

Alabama leaders have reported that they are gaining momentum toward striking a deal between Jefferson County and Wall Street creditors in regards to the largest municipal bankruptcy in the country.

Negotiators with the county met with county’s sewer system creditors in order to begin discussing a deal. While exact details were not discussed, officials have stated that further meetings are to take place in New York during the  beginning of December.

A written statement was given by officials and reported that the meeting was “productive,” but “much work” is still needed to be done before a deal can be made.

Jefferson County filed for Chapter 9 bankruptcy on Nov. 9, 2011 reporting $4.23 million in debt. The court documents show that most of the debt is related to the loss of tax on local jobs, political corruption issues and debt from the a new sewer system.

Chapter 9 bankruptcy alleviates the stress of lawsuits being filed against the county, but states that a plan must be developed to pay creditors back as well as set up a fund to help with future operations. The plan must then be approved by a U.S. Bankruptcy judge and county officials are hoping that it will be ready for approval sometime this winter.

Jefferson County Makes First Attempt to Emerge From Bankruptcy

Jefferson County has recently made plans in order to make an attempt to exit from Chapter 9 bankruptcy.  The County Commissioners have said that the vote could happen as soon as next week, but some creditors have already stated that it will be challenged in court.

In order to emerge from Chapter 9 bankruptcy, only a debtor can propose a restructuring plan and a judge must later approve it. Last year, the county filed for Chapter 9 bankruptcy after claiming that they had $4.2 billion in debt with nearly $3.14 million coming from a sewer expansion program that took place in 1997.

The new restructuring plan would result in an increase of less than $2 per month for sewer customers in the county. The county has not seen a sewer rate increase since 2008.

Sewer system creditors have expressed that they do not think that this plan will work for many reasons. For example, creditors stated that they are not sure how an intricate billing system can be changed so easily. County officials in favor of the restructuring plan will create a “real and meaningful rate increase.”

If you or your family members have any questions regarding any type of bankruptcy, contact a Birmingham bankruptcy lawyer at the Greenway Law Firm today by calling (205) 324-4000.

Major U.S. cities file for bankruptcy

The current state of the economy has lead to U.S. cities filing for bankruptcy in order to deal with the debt and lack of revenue.

Bankruptcy analysts have stated that nearly 100 cities may be nearing this option. Two large cities, Birmingham, Alabama and Harrisburg, Pennsylvania have recently filed for bankruptcy.

A city in California, Vallejo, recently just emerged from bankruptcy. They still have some debt remaining, but are now equipped  to handle them better.

If you or someone you know is struggling with debt and are considering filing for bankruptcy, you need representation on your side that can discuss all of your options. Contact the Birmingham bankruptcy lawyer Paula Greenway by calling (205) 324-4000 today.

Jefferson County files for bankruptcy

Last week, Jefferson County commissioners voted 4-1 to file for bankruptcy.  The bankruptcy filing is reportedly the largest bankruptcy petition filed by a municipality in the history of the U.S.

The filing was made on Thursday.  A federal judge in Birmingham ordered a hearing in which officials will determine whether or not the county is eligible for Chapter 9 bankruptcy.

In September, the county and its creditors were able to reach a provisional agreement which included $1.1 billion in concessions.  The agreement also included an increase in sewer rates for residents of Jefferson County of up to 8.2 percent.

To speak with an experienced attorney about filing for bankruptcy in Birmingham, contact the Birmingham bankruptcy lawyers of Greenway Bankruptcy Law, LLC by calling (205) 324-4000 today.

Jefferson County has 80% chance of filing for bankruptcy

The Jefferson County commissioner has announced that the county has an 80 percent chance of filing for bankruptcy.

The commissioner made this announcement after a day full of meetings with bankruptcy lawyers. She is now the first democrat that supports the plan for the county to file for bankruptcy. This option is looking like more and more of a possibility if a settlement is not reached with creditors.

Creditors have yet to respond to a settlement that was submitted last week that will increase sewer costs in order to erase $1.3 billion of a $3.14 billion sewer debt that has been around since 2008. A discussion with creditors was hoped to be reached by this week, but it has not occurred at this time.

If you or a loved one has been considering bankruptcy, you need experienced representation on your side. Contact the bankruptcy lawyers in Birmingham of Greenway Bankruptcy Law, LLC, by calling (205) 324-4000 today.

Study finds African-Americans more likely to file Chapter 13 bankruptcy

A recent study that was released by the Woodstock Institute in Chicago found that black people are much more likely to file for Chapter 13 bankruptcy than white people, who are more likely to file for Chapter 7 bankruptcy.

The study found that almost half of the black residents in Chicago who had filed for bankruptcy had filed for Chapter 13 bankruptcy. Of the white residents in the same area who filed for bankruptcy, only 22 percent filed for Chapter 13 bankruptcy.

Some have attributed the findings to misinformation that is given to black people when they are filing for bankruptcy and have said that some agencies may deliberately offer Chapter 13 bankruptcy because it generally costs more for the filer.

There are benefits to filing Chapter 7 bankruptcy and Chapter 13 bankruptcy, depending on your needs. To discuss your financial situation with an experienced lawyer, please contact the bankruptcy lawyers Birmingham of Greenway Bankruptcy Law, LLC, at (205) 324-4000.

Alabama county’s finances affected by recent tornado

The tornado that recently wreaked havoc in Alabama has also been predicted to have a negative impact on the state’s finances. Jefferson County, in particular, will be affected by the storms because the county was already facing the biggest municipal bankruptcy that has ever occurred in the U.S.

The tornado destroyed more than 5,000 homes and left 19 people dead in Jefferson County alone. Officials have reported that the county will have to pay $400 million to clean up the ravaged area. They have said that the county will not be able to recover from its debt for at least 3-5 years, due, in part, to the storm.

Many Jefferson County residents are wondering how the storm and financial crisis will affect them. Reports have indicated that county officials are trying not to let residents feel the impact of the debt.

If you or someone you love is in debt and would like to discuss bankruptcy options, please contact the Birmingham bankruptcy lawyers of Greenway Bankruptcy Law, LLC, at (205) 324-4000.

Alabama Company Bids Gun Manufacturer Out of Debt

Manroy, an Alabama company that makes weapons and supplies, recently paid $4.95 million to a Tennessee gun-making company in exchange for all of the bankrupt company’s assets.

The exchange took place at an auction which the Tennessee company, Sabre Defence, had organized in an effort to gain money that would be used to pay back the company’s investors. The company faced bankruptcy after its legal troubles, involving the trafficking of firearms, caused it to accumulate a $4 million debt. Because of this auction, the company will now be able to pay back its investors in full.

The Alabama company, Manroy, will merge the two companies and rehire many of Sabre Defence’s employees.

If your business is in debt, and you would like more information on filing bankruptcy, please contact the Birmingham bankruptcy lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000.

"When I had my power cut off because I just didn't have the money to pay the power bill, a friend suggested I call Paula Greenway. From the moment I walked in her office I felt like a burden was lifted from my shoulders."
Robin M
"I would just like to say that I was impressed by the staff of Greenway Bankruptcy Law, LLC and their attention to professionalism. They made the bankruptcy process not only pleasant but simple."
Jennifer S.
I can't tell how comforting it is to know your attorney is working on your case. I would and have recommended their service to friend and associates."Ed H.
"I would like to thank Greenway Bankruptcy Law, LLC for the way in which they handled my bankruptcy case."
Robert M.
Schedule an Appointment
In the News

Greenway Bankruptcy Law, LLC
505 20th St N #1220
Birmingham, AL, 35203
Phone: (205) 324-4000
Tuscaloosa: (205) 737-3350
Gadsden: (256) 467-6650

home  |  firm profile  |  practice areas  |  articles  |  faqs  |  blog  |  contact us  |  evaluation  |  sitemap  |  Log in
Greenway Bankruptcy Law, LLC All rights reserved. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

Greenway Bankruptcy Law, LLC 505 20th St N #1220, Birmingham, AL, 35203 | Phone Number: (205) 324-4000